A relation between two goods or services where the price change of one affects the demand for the other due to their joint usage.
A comprehensive guide on complementary goods, exploring their historical context, types, key events, mathematical models, and real-world applications.
Examines the demand change for a good based on the price change of another good. Positive CED indicates substitute goods, while negative CED indicates complementary goods.
Explore the concept of joint demand, where two goods are demanded together, such as printers and ink cartridges. Learn about its dynamics, historical context, examples, and related terms.
A comprehensive look at complementary goods, their demand dynamics, and examples in the market.
Cross-price elasticity measures how the price of one good is affected by the price change of another related good, be it a substitute or a complement.
